NBA Top Shot has invested in several promising cryptocurrency ventures in recent years. However, its collection of NBA non-fungible tokens (NFTs), including GIFs, highlights, first games by legends, and other memorable NBA moments, earned NBA over $1 billion in income.
This may be a turning point in the NBA’s cryptocurrency investment. The NBA and other American cryptocurrency enthusiasts and gurus have taken note of this development. They are keen on the NBA turning ticket stubs and other memorable moments into NFTs to boost NBA’s investment in the cryptocurrency space.
The Increasing Quest for Ticket Stubs
Many collectors have suddenly found a passion for collecting memorable and unique ticket stubs. They have a long list of options that include a stub from Michael Jordan’s last career game, LeBron James’ iconic career game, or Kobe Bryant’s final career game.
They can find a host of other memorable stubs to collect, giving NBA more reasons to invest in NFT ticket stubs for crypto investors, collectors, and others interested in such memorable NBA moments.
A typical example is Kobe and Steve Nash’s first career game stub. It is listed at a whopping $4,000. NFT enthusiasts may want to have memorabilia from that iconic game against Phoenix Suns to demonstrate their passion for the game and respect for these legendary players, especially the late Kobe, whose impact on the NBA can’t be ignored.
Why Investing in NFT Ticket Stubs May be a Wise Investment Decision
While explaining why the NBA should invest in NFT ticket stubs, a Maryville University associate professor of Communication, Dr Dustin York, noted that with the increasing demands for stubs, the NBA should rise to the occasion and partake in their NFTs.
According to him, teams only sold tickets for face values some couple of years ago and will get nothing when such stubs sell at higher prices. The situation could be addressed in the NBA’s favour by investing in ticket stubs. It may sell ticket stubs from outstanding rookies’ first games after they become superstars and take a pre-determined commission on the sale.
Hence, while the superstar makes some money from the sale, the NBA receives a sizable commission, a mutually-beneficial arrangement for the NBA star and the association itself.
One of these digital NFT stub selling points is that you can track them easily. The NBA may take advantage of this feature to invest in such stubs. Besides the NBA, individual teams interested in them can also invest in them.
Teams can also take advantage of the ease of tracing each NFT stub online to collect valuable pieces of data on their consumers for promotional or other purposes.
NFT stubs also give fans a sense of superiority. A fan who sold their stub some years back can have a sense of superiority years later since such stubs can easily be traced back to them. It’s one of the ways they can establish their long-term support for new NBA teams or rookie players before their rise to stardom.
As NFT stubs become increasingly popular, they will be rarer and more valuable for the players, clubs, associations, and every other person involved. This may make it a wise investment decision for the NBA.